Peter Martin and Jake Tosti Write “Restructuring Practices the Legal Way” for Worcester Medicine
Worcester Medicine has published “Restructuring Practices the Legal Way” by Peter Martin and Jake Tosti. The health care provider community has been effected by COVID-19 in many ways, including economically. In this article, Peter and Jake offer advice for practitioners in these trying times. Below is an excerpt from the article:
Before taking any employment action, practitioners should carefully review any and all relevant employee agreements. This is an important and necessary first step, as such agreements may significantly restrict practitioners’ options. For example, agreements that guarantee a salary or bonus, establish a fixed-term of employment, or contain provisions governing termination (such as requiring cause and/or advance notice) must be addressed prior to a layoff or salary reduction. Violations of such terms, termination and compensation provisions can lead to an expensive claim for monetary damages.
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